Failed 2022
Hodlnaut
Small crypto lending platforms offering 7%+ yields on stablecoins were all exposed to the same correlated risks.
Founded → Closed
2019 → 2022
Funding Raised
$40M
Industry
Crypto/Lending
Country
Singapore
IdeaProof AI Failure Score
72/100
Market Fit Risk
50
Burn Rate Risk
45
Founder Risk
85
Full Analysis
Hodlnaut was a Singapore-based crypto lending platform that offered high yields on crypto deposits. The company lost $190M from exposure to Terra/Luna and 3AC. Co-founders were charged with fraud for allegedly hiding the losses from users while continuing to accept deposits. Platform was shut down and placed under judicial management.
Could This Failure Have Been Prevented?
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